Notification

   Dear Clients,

   We hereby inform you that, pursuant to the Law of the Republic of Kazakhstan dated July 16, 2025, “On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on the Issues of Optimization of the Criminal Legislation of the Republic of Kazakhstan”, amendments have been introduced to:

the Law of the Republic of Kazakhstan “On Payments and Payment Systems” (hereinafter – the Law on Payments); and

the Criminal Code of the Republic of Kazakhstan (hereinafter – the Criminal Code).

These amendments establish criminal liability for individuals who provide third parties with access to their bank account and/or electronic payment instrument, as well as for those who transfer such instruments for use by third parties, including for monetary compensation, if this results in their unauthorized use in unlawful transactions.

In particular, pursuant to the newly introduced paragraph 14 of Article 25 of the Law on Payments, the following prohibitions are established:

• Granting access to a bank account, payment instrument, or identification means, as well as their transfer to third parties, which results in third parties obtaining access to the execution of payments and money transfers, except when such access is granted to a spouse or close relatives, or to other persons in cases provided by law.
• Executing payments and money transfers using a bank account, payment instrument, or identification means of third parties, except for a spouse or close relatives, or in cases provided by law.
• Executing payments and money transfers in the interests of or for the benefit of a third party in exchange for monetary compensation or other property-related benefits.

Liability for violation of the above provisions is established by Article 232-1 of the Criminal Code of the Republic of Kazakhstan and provides for penalties ranging from a monetary fine to restriction or deprivation of liberty for a term of up to five years, with confiscation of property.

       At the same time, the unlawful acquisition of access to the management of a bank account, a payment instrument, or an identification means for the purpose of carrying out unauthorized payments and money transfers shall be punishable by restriction of liberty for a term of three to seven years, or by deprivation of liberty for the same term, with confiscation of property.

These amendments shall enter into force on September 16, 2025. 

   In this regard, we strongly urge you to remain vigilant and not to disclose or transfer your payment card or account details to third parties.

Sincerely,

Shinhan Bank Kazakhstan JSC